iOS app Android app

Bankruptcy Court

8 Companies You Didn't Know Went Bankrupt

The Huffington Post | Andy McDonald | Posted 04.03.2014 | Business

When a company declares Chapter 11 bankruptcy, it stays in control of its assets, works out a plan with the courts to pay its debts, and ideally c...

Court Grants Corporations Impunity to Mug Retirees

Leo W. Gerard | Posted 08.10.2013 | Business
Leo W. Gerard

When a kid snatches an old lady's purse, it's punished as a crime. But when a corporation manipulates bankruptcy law to deny thousands of retired coal miners benefits they labored their entire lives to earn, it's endorsed by federal court.

Borders Bookstore Will Eliminate 11,000 Jobs, Close 400 Remaining Stores

Posted 09.17.2011 | Business

Bankrupt Borders Group Inc said it has canceled its auction and will sell itself to a group of liquidators. Borders announced the decision on M...

Fund's Bet On Post-Failure Lehman Brothers Could Reap Huge Rewards

Wall Street Journal | MATT WIRZ, MIKE SPECTOR and TOM MCGINTY | Posted 07.10.2011 | Business

Hedge-fund manager John Paulson made $4 billion betting against subprime mortgages, the market that ultimately helped destroy Lehman Brothers Holdings...

Dish Network Wins Bid To Buy Blockbuster

AP | Posted 06.06.2011 | Business

NEW YORK -- Dish Network Corp. said Wednesday that it won the auction for Blockbuster Inc. with a bid valued at $228 million in cash. As of Tuesday, ...

Madoff Trustee Sues JPMorgan, Others For $6.4 Billion

AP | Posted 05.25.2011 | Business

NEW YORK — The trustee trying to recover money for investors cheated by Bernard Madoff is suing JP Morgan Chase for $6.4 billion, saying the ban...

Lehman's Bankruptcy Advisers Make $1.3 Million Per Day

The Huffington Post | William Alden | Posted 05.25.2011 | Business

More than two years after it collapsed in the biggest bankruptcy in U.S. history, Lehman Brothers is still shelling out money. The firm's total bankr...

Garnished Wages For Working Poor: Banks And Debt Collectors Often Go After Borrowers, Win

New York Times | JOHN COLLINS RUDOLF | Posted 05.25.2011 | Business

One of the worst economic downturns of modern history has produced a big increase in the number of delinquent borrowers, and creditors are suing them ...

Fontainebleau Las Vegas: Carl Icahn Set To Buy Unfinished Casino-Resort

AP | OSKAR GARCIA | Posted 05.25.2011 | Business

LAS VEGAS — Billionaire investor Carl Icahn is closer to buying the unfinished Fontainebleau Las Vegas casino-resort on the Strip after two othe...

Judges Siding With Some Homeowners In Mortgage Court Fights

New York Times | GRETCHEN MORGENSON | Posted 05.25.2011 | Business

FOR decades, when troubled homeowners and banks battled over delinquent mortgages, it wasn't a contest. Homes went into foreclosure, and lenders took ...

Paterson Signs Order That Could Save OTB

AP | Posted 05.25.2011 | New York

ALBANY, N.Y. (AP) -- Gov. David Paterson has signed an executive order that could send the long-troubled New York City Off-Track Betting Corp. to bank...